Financial decisions are part of everyday life. From reading a paycheque to comparing prices, understanding a bank statement or planning for an unexpected expense, adults use financial literacy skills every day. For adult learners who are also developing reading, writing and numeracy skills, financial literacy can provide meaningful, real-world opportunities to practise those skills.
The good news is that financial literacy can be embedded into the literacy activities practitioners are already doing. By using familiar financial situations and practical resources, practitioners can help learners build both literacy skills and confidence in managing their money.
Start with everyday financial situations
One of the easiest ways to introduce financial literacy is to connect learning activities to situations learners may encounter in their daily lives.
For example, a lesson on reading comprehension could use a utility bill, bank statement or grocery flyer. Learners can practise identifying important information, finding specific details and understanding unfamiliar words.
A numeracy lesson could involve comparing grocery prices, calculating a discount or working out how much money is left after paying monthly expenses.
These activities give learners a clear reason to practise their skills, working with information that has a direct connection to their lives.
Build financial vocabulary
Financial documents often contain words and phrases that can be difficult to understand, even for people with strong literacy skills. Terms such as “interest,” “minimum payment,” “balance,” “transaction,” “income,” and “debt” may be unfamiliar or confusing.
Practitioners can introduce financial vocabulary gradually and reinforce it through different activities. Learners might create a personal financial word bank, match terms with their definitions or use new words in sentences.
It is also helpful to focus on the language learners are most likely to encounter in real life. Reading a bank notice or understanding a credit card statement becomes easier when learners recognize the terminology.
Use authentic materials
Real-world materials can make financial literacy lessons more engaging and practical. Grocery flyers, sample bills, advertisements, sample pay statements, menus, sample bank statements and financial forms can all become learning resources.
For example, learners could compare two grocery flyers and identify which items offer the best value. They could read a sample bill and identify the amount due and the payment deadline. They could examine a fictional pay statement and identify gross pay, deductions and take-home pay.
Practitioners should use fictional or publicly available examples rather than asking learners to share their personal financial documents. The goal is to build skills without requiring learners to disclose private financial information.
Make critical thinking part of financial literacy
Financial literacy is about more than being able to calculate numbers. Adults also need to evaluate information and make informed decisions.
Advertising provides an excellent opportunity to practise these skills. Learners can examine advertisements for sales, subscriptions or financing offers and discuss what information is emphasized and what information may be less obvious.
A lesson might ask: What is the advertised price? Are there additional costs? What information would you want to know before making a decision?
These activities develop reading comprehension and critical-thinking skills while helping learners become more confident consumers.
Incorporate goal-setting and problem-solving
Financial literacy can also provide opportunities for writing and communication. Learners might write a simple savings goal, create a weekly spending plan or develop a list of questions they would ask before opening a bank account.
Problem-solving activities can be adapted to different literacy levels. One learner might identify the information needed to solve a problem, while another might calculate the costs or write a short explanation of their decision.
The important thing is to meet learners at their current skill level while giving them opportunities to build independence.
Create a safe, non-judgmental learning environment
Money can be a sensitive topic. Learners may have experienced financial stress, debt, low income or difficulty navigating financial systems. Practitioners should avoid activities that require learners to disclose their income, debt or personal financial choices.
Instead, use fictional scenarios and emphasize that financial literacy is about building knowledge, skills and confidence, not judging someone’s financial situation.
A respectful classroom environment allows learners to ask questions, make mistakes and learn from one another.
Keep the focus on practical skills
Financial literacy works best in an adult literacy curriculum when learners can see how the skills apply to their everyday lives. Reading a bill, understanding an advertisement, comparing prices or calculating a percentage can all become literacy-learning opportunities.
By embedding financial topics into reading, writing, numeracy and communication activities, practitioners can help learners develop skills that extend beyond the classroom. They are not simply learning how to complete a worksheet. They are building the confidence and knowledge they need to navigate financial information and make informed decisions in their everyday lives.
Financial literacy can be part of the literacy learning that happens every day.
To access free financial literacy resources that you can use in your adult literacy programming, visit abcmoneymatters.ca.
